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Ross had originally intended to retain his shipping interests
following his confirmation in February. But the 79-year-old
investor came under criticism after disclosures on Sunday that
one of Navigator's major clients is the Russian gas company
Sibur, a firm whose owners include members of Russian President
Vladimir Putin's inner circle.
Information about the business ties between Navigator, which
operates gas-carrying ships, and Sibur was based on leaked
documents from offshore law firm Appleby that are part of the
so-called Paradise Papers, which show details of business
dealings by wealthy people and institutions ranging from Ross to
Britain's Queen Elizabeth and trading firm Glencore <GLEN.L>.
Reuters has not independently verified the documents.
"He began divesting his Navigator interests in May," the
administration official said of Ross. "He is nearing completion
of that process."
An office of government ethics disclosure filed by Ross on June
20 showed that he sold an interest in Navigator valued at
$15,001 to $50,000 on May 30.
The official did not provide an explanation for Ross's
divestitures. Ross had owned stakes in the firms through several
partnerships.
Ross, a billionaire investor who is helping to shape Republican
President Donald Trump's trade policy, had told U.S. senators
during his confirmation hearing in January that his research
showed that retention of shipping interests would not present a
conflict of interest. U.S. ocean shipping regulation is handled
by the Federal Maritime Commission, a separate, independent
agency.
Diamond S Shipping, based in Greenwich, Connecticut, operates 33
petroleum product tankers and 12 crude oil tankers operated
under the flags of Hong Kong, the Marshall Islands and Malta.
Ross told media on Monday that he had nothing to do with
London-based Navigator's relationship with Sibur and had never
met any of Sibur's owners. These include Putin's son-in-law,
Kirill Shamalov, and Gennady Timchenko, a Putin associate who is
subject to U.S. Treasury sanctions.
Ross said in multiple media interviews that he had fully
disclosed his stake in Navigator Holdings as part of government
ethics requirements.
(Reporting by David Lawder; Editing by Nick Macfie)
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